Alta Park Capital LP Has $20.91 Million Stock Holdings in Semtech Corporation $SMTC

Alta Park Capital LP boosted its holdings in shares of Semtech Corporation (NASDAQ:SMTC) by 39.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 283,726 shares of the semiconductor company’s stock after purchasing an additional 80,108 shares during the period. Semtech comprises 2.5% of Alta Park Capital LP’s portfolio, making the stock its 14th biggest holding. Alta Park Capital LP owned about 0.31% of Semtech worth $20,908,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Semtech by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 11,858,352 shares of the semiconductor company’s stock valued at $873,842,000 after acquiring an additional 298,987 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Semtech by 3.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 7,373,744 shares of the semiconductor company’s stock worth $526,861,000 after purchasing an additional 261,647 shares during the last quarter. Capital Research Global Investors increased its position in shares of Semtech by 13.9% during the 3rd quarter. Capital Research Global Investors now owns 4,691,676 shares of the semiconductor company’s stock worth $335,220,000 after purchasing an additional 571,372 shares in the last quarter. State Street Corp lifted its holdings in Semtech by 1.5% during the 2nd quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock valued at $182,235,000 after purchasing an additional 60,788 shares during the last quarter. Finally, Whale Rock Capital Management LLC lifted its holdings in Semtech by 11.3% during the 4th quarter. Whale Rock Capital Management LLC now owns 3,901,469 shares of the semiconductor company’s stock valued at $287,499,000 after purchasing an additional 396,504 shares during the last quarter.

Semtech Trading Down 7.0%

SMTC stock opened at $150.20 on Thursday. The business has a fifty day moving average price of $130.31 and a 200 day moving average price of $97.88. Semtech Corporation has a fifty-two week low of $40.24 and a fifty-two week high of $177.35. The stock has a market capitalization of $13.99 billion, a price-to-earnings ratio of -385.13 and a beta of 2.32. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.37 and a quick ratio of 1.62.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. The firm had revenue of $291.02 million during the quarter, compared to analysts’ expectations of $283.53 million. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.The business’s revenue was up 15.9% on a year-over-year basis. During the same period last year, the firm posted $0.38 EPS. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Analysts expect that Semtech Corporation will post 1.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Craig Hallum boosted their price target on shares of Semtech from $105.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Mizuho set a $225.00 price target on shares of Semtech in a research report on Wednesday, May 27th. Benchmark increased their price target on Semtech from $120.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Roth Mkm raised their price target on Semtech from $102.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Finally, Weiss Ratings cut Semtech from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, March 24th. Thirteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Semtech has a consensus rating of “Moderate Buy” and a consensus target price of $179.73.

Insiders Place Their Bets

In related news, EVP Jason Elliot Green sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $81.73, for a total value of $612,975.00. Following the completion of the transaction, the executive vice president directly owned 8,811 shares in the company, valued at approximately $720,123.03. The trade was a 45.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Lin sold 9,186 shares of Semtech stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $75.05, for a total value of $689,409.30. Following the completion of the sale, the chief financial officer directly owned 32,710 shares in the company, valued at $2,454,885.50. This represents a 21.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 25,160 shares of company stock worth $2,227,705 over the last three months. Insiders own 0.48% of the company’s stock.

About Semtech

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.